Know-How Exchange : Student Questions

Below are some recent quotes presented at a restaruant conference this past Monday (3/21/05). They were made regarding customer loyalty.

"Loyalty is the result of an emotional connection with your brand coupled with a relationship at the point of purchase."

"There is a difference between satisfied and very satisfied. Satisfied customers come in 4.2 days each month, and very satisfied customers come in 7.3 times. Satisfied customers have been patrons for 4.4 years, whereas very satisfied patrons have been so for 8.3 years. Satisfied customers spend $210 each month whereas very satisfied customers spend and average of $318 per month. They will be big spenders!"

"Loyal customers are almost evangelistic. They want to be a part of your company."

These were presented by Technomic, Inc. They are located in Chicago.

If you'd like to discuss other things we have found over the last 8 years of managing loyalty programs, feel free to contact me directly. You will find my contact info in my profile.